Equipment financiers Alliance Funding Group and Lightbrook have formed a new entity to provide streamlined financial solutions that support large capital investments.
The venture, Alliance Equipment Finance (AEF), will focus on transactions ranging from $5 million to $50 million, according to a Jan. 27 release.
Randy Hicks, president and chief executive, will lead the company alongside Chief Risk Officer Todd Greenberg and Chief Revenue Officer Ryan Elsass. Hicks, who has over 30 years of equipment leasing and corporate finance experience, previously co-founded Nations Equipment Finance and held senior roles at GE Capital.
Greenberg, with over a decade of collaboration with Hicks, brings a balanced approach to risk assessment and innovative client solutions. Greenberg previously worked at Post Road Equipment Finance. Elsass joins AEF from 36th Street Capital, where he cultivated relationships with private companies and equity sponsors, excelling in large-ticket transactions across various industries.
AEF benefits from the strategic backing of Alliance Funding Group, founded by Brij Patel in 1998. Under Patel’s leadership, AFG has originated over $3 billion in leased assets across various industries. Lightbrook, founded by investment banking veterans Andrew Carroll and Prashant Upadhyay, will also play a pivotal role.
By combining decades of industry expertise with innovative capital strategies, the company aims to deliver efficient, dependable results tailored to large-ticket financing needs.
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